Defying the sell-off: Bitcoin whales accumulate amid massive market volatility

Whale Watch: Bitcoin's 5% dip spurs accumulation among major holders as BTC whales take advantage of cheaper prices.

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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Quick Take

  • Bitcoin is currently down 5% in the past five days, which has sparked massive volatility and a sell-off from short-term holders.
  • However, Bitcoin whales continue accumulating Bitcoin even as the prices continue to decrease.
  • The blue denotes accumulation, which can be seen with whales that hold 10,000 Bitcoin or more. At the same time, all other cohorts are selling or in a distribution phase.
  • Furthermore, supply per whale has increased to 535 Bitcoin — demonstrating the increase in whale accumulation—the highest supply per whale since the FTX crash in Q4 2022.
Accumulation Trend Score: (Source: Glassnode)
Accumulation Trend Score: (Source: Glassnode)
Supply Per Whale: (Source: Glassnode)
Supply Per Whale: (Source: Glassnode)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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Bitcoin BTC (24h)
$80,993.00 +2.18%
Market Cap $1.62T
24H Volume $37.01B